The new owners will continue to operate Fernwood Hotel & Resort, The Villas at Tree Tops and Fairway and Minisink Financial.

As part of the deal, Resorts Group will sell the Outdoor World campgrounds to a subsidiary of Texas-based Privileged Access, the largest company operating membership campgrounds throughout the United States. Its holdings include the Thousand Trails system.

This deal marks the return of Fernwood Resort to local ownership. The Ahnert family started the business more than 70 years ago. Peter Ahnert later sold it to Rank.

The sale is set to close on Dec. 15, said Gina Bertucci, part of the management team-turned-buyers.

The team includes Kevin Lavelle, Mark Turner, Thomas Casale, Kurt Rawding, Josh Herschlag and a new partner, Harry VanSciver of Whitebriar Financial Corp.